Seven floated merger with ViacomCBS’ Ten

Original article by Zoe Samios
The Age – Page: Online : 26-Oct-20

Sources have indicated that Seven West Media chairman Kerry Stokes held informal talks earlier in 2020 about a potential merger with the rival Ten Network. The discussions between Stokes and ViacomCBS president and CEO Bob Bakish are said to have ended after they agreed that such a deal would not be possible under Australia’s existing media ownership rules. Any such deal would also have faced scrutiny by the Australian Competition & Consumer Commission. The talks have heightened speculation that Stokes may be keen to exit the media sector.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED, VIACOMCBS INCORPORATED

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